Current exchange rate for transfers of international money orders

Current exchange rate for transfers of international money orders

The international postal payment order service offered by Correos de Cuba since 2011 is now offered since last October with the current exchange rate in all post offices that carry out this payment.

Ismaray del Carmen Urdaneta de la Rosa, specialist in institutional communications at the Postal Company in Santiago de Cuba, explained to the newspaper that the person sending the payment order can do it in the most convenient way for the customer, by clicking on a MLC account deposits .or cash-cash.

In this sense, he said that in the case of preferring the first option (card deposit in MLC), it must be requested by the person who imposes the payment order at the point of origin and that it be deposited with one of the banks with which it has a relationship , ie , Metropolitan, Bandec and BPA.

He also explained that the cash-cash mode with payment in CUP was adopted as a measure to apply the country’s current exchange rate for foreign currencies, set by the Central Bank of Cuba, of 1.00 USD, which is 120.00 cup is equivalent to.

In this sense, he said that a BCC-approved margin of 1% is applied to the international remittance and an amount related to 1.00 USD for 118.80 cup is paid at the counter.

IMG 20221103 WA0092De la Rosa also highlighted that among the novelties is the crediting of the funds received in CUP to national bank accounts (magnetic cards) also in CUP, always at the request of the beneficiary, an option to be requested at the time of collection.

“This means that the person who is going to collect has the option of receiving the money in hand or deciding to deposit it into their CUP account,” he claimed.

Correos de Cuba has agreements with Spain, Chile, Uruguay, Dominican Republic, Colombia, Peru and Panama. In Santiago de Cuba, these services are provided by Santiago 1 (Correo Central), La Maya, San Luis, Palma and Contramaestre.